The term information technology has acquired a much broader meaning in recent times. It has created a breakthrough and driven growth in almost every sectors starting from businesses for development to the organizations maintaining as well as publishing software by using different business models.
The products and services offered by the software and IT industries have a huge impact on the national income. Various software developers, web designers, project coordinators, administrative staffs, accountants and other professionals are earning their bread and butter through the help of these industries. With the advent of new technologies the growth and development of IT industries are at its peak as it has fulfilled the demands of the business market by creating a world of global outsourcing.
These companies have emerged as MNC’s operating as global companies and draws huge foreign revenue. They are also proving end to end development offerings including product innovation, more recently business transformation and engineering principles. While the industry’s value proposition in the late80’s was about delivering scalability and low offering costs to the clients, today it has become one of the most competitive areas which has to do with domain expertise that drives end to end services as well as research and development.
The IT industries have also contributed greatly in bridging the gender gaps by providing equal work opportunities to the women as well. More than 5 million women today join the IT sectors for their livelihood and have contributed significantly as chief wage earners. Again, the women are not only the beneficiaries, the employment opportunities offered by the IT’s have touched the different sections of the society as well as done a lot to empower the youth by providing them high paying jobs, thereby shaping their career in the right direction. The IT industries have also created a source of income for the differently able people. Hence, they have contributed in enhancing the social and economic growth of a country by having an overall impact in the GDP, exports and reducing the fiscal burden.